Skewing the System

Letters from an American vor 2 Monaten

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Letters from an American

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A newsletter about the history behind today's politics.

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August 4, 2026

In a court filing on Friday, Capital One Bank stated that it had
closed more than 380 of Trump and the Trump Organization’s bank
accounts for anti-money laundering reasons, Trump and the Trump
Organization had sued Capital One in federal court in Florida,
Trump has rabidly attacked FBI and Justice Department officials
who have extensive experience in investigating money laundering
and organized crime, Sen Ron Wyden released a report saying that
Wall Street banks held off on filing required suspicious activity
reports on transactions associated with Jeffrey Epstein, The
report describes how top banks enabled Epstein’s sex- trafficking
operation by ignoring suspicious financial transactions, The
report also points out that Republicans have blocked Wyden’s
measure requiring Treasury to produce copies of all suspicious
activity reports related to Epstein, The report asks for an
investigation into the behavior of individual bankers as well as
the banks, In the 1930s federal securities laws and banking
regulations were passed to clean up Wall Street and create a
level playing field, We are watching the dismantling of these
protections and a skewing of the system toward the very wealthy.

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